https://www.taxtmi.com/caselaws?id=123260 Duty demand arising from shortage detected during stock verification was sustained where the assessee's representative admitted the shortage, agreed to pay duty, and the amount was deposited before the show cause notice; the later objection to the stock-taking method was not accepted, so appropriation of the deposited amount was held proper. Penalty under Rule 25 read with Section 11AC was deleted because the record did not establish fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty. The matter therefore resulted in sustenance of the duty demand but rejection of the mandatory penalty. en-us Mon, 26 Nov 2007 00:00:00 +0530 Tue, 11 Sep 2012 11:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123260 Duty demand arising from shortage detected during stock verification was sustained where the assessee's representative admitted the shortage, agreed to pay duty, and the amount was deposited before the show cause notice; the later objection to the stock-taking method was not accepted, so appropriation of the deposited amount was held proper. Penalty under Rule 25 read with Section 11AC was deleted because the record did not establish fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty. The matter therefore resulted in sustenance of the duty demand but rejection of the mandatory penalty. Case-Laws Central Excise Mon, 26 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123260